Yearly Archives: 2019

In re Sky Harbor Hotel Props. – 6/25/2019

July 10, 2019
Arizona Supreme Court holds that the manager of a limited liability company owes a common law fiduciary duty to the company, as does a member acting as an agent of the company, but that the company’s operating agreement may eliminate these duties.

Monroe v. Arizona Acreage LLC – 5/16/2019

June 10, 2019
Court of Appeals Division One holds that: (1) a six-year statute of limitations governs judicial foreclosure; (2) the statute of limitations for enforcement of guaranty, absent agreement to the contrary, is identical to enforcement of the underlying note; and (3) a class action notice with an opportunity to opt out satisfied a deed of trust requirement that majority of lenders initiate default action.